Czech Republic Industrial production

Czech Republic: Industrial production picks up in November

January 8, 2016

Industrial production in November increased 5.7% year-on-year, which represented an acceleration compared to the 3.8% expansion registered in October. November’s result mainly reflects healthy expansions in the production of motor vehicles, trailers and semi-trailers.

A month-on-month comparison showed that industrial output in November decreased 1.2% in seasonally-adjusted terms, which contrasted October’s 1.5% increase. The trend improved as annual average growth in industrial production rose from October’s 4.5% to 5.0% in November.

At its first meeting of the new year, held on 1 February, the Czech National Bank (CNB) unanimously decided to increase the two-week repo rate by 25 basis points to 0.75%, and the Lombard rate by 50 basis points to 1.50%; the discount rate was, however, left unchanged at 0.05%.